Intro – Anchor Bank Reviews & Ranking


Anchor Bank was recently ranked and reviewed by AdvisoryHQ as a top rated banking firm. Firms on our top rated lists were selected after they successfully passed AdvisoryHQ’s ground-breaking, four-step banks and credit unions selection methodology

Click here for a step-by-step breakdown of the methodology and selection process used during our Anchor Bank review: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions.

The Anchor Bank review below provides a detailed assessment, including some of the factors used by AdvisoryHQ News in its ranking and selection of Anchor Bank.


Anchor Bank Review


Since first opening their doors in 1967, Anchor Bank has been focused on helping their customers accomplish their goals. Anchor Bank is among the top banking firms that are passionate about helping families and businesses grow.

This privately-held, family-owned bank holds more than $2 billion in assets and operates 18 locations across the Twin Cities and Mankato. They currently boast more than 300 dedicated employees and a strong community focus.

Photo courtesy of: Anchor Bank

Key Factors Leading Us to Rank This Firm as One of This Year’s Top Banking Firms

Upon completing our detailed reviews, Anchor Bank was included in AdvisoryHQ’s ranking of this year’s best banking firms based on the following factors. 



Anchor Bank Review: Flexible Personal Checking Account Options

Anchor Bank offers several checking account options designed to meet all of their customers’ financial needs.

Checking accounts available at Anchor Bank are:

  • Anchor Checking: flexible with no minimum balance requirement and no monthly fee when enrolled in eStatements
  • Reward Checking: an account designed for customers aged 62 and up with no monthly fee
  • Interest Checking: interest-bearing account with no monthly fee when enrolled in eStatements and minimum balance requirement is met
  • Merit Plus Checking: interest-bearing account for those who maintain a higher balance with no monthly fee when minimum balance requirement is met

Anchor Bank Review: Commercial Banking

Anchor Bank has many commercial checking and savings account options designed to build on the solid foundation that has already been laid out by their commercial customers.

Checking accounts offered are:

  • Commercial Checking: designed for businesses with a high volume of monthly transactions
  • Business Checking: designed for businesses looking for a generous number of free transactions
  • Non-Profit Checking: designed for 501(c)(3) organizations

Anchor Bank offers several commercial savings account options to help businesses grow their money. They are:

  • Business Savings: a no-hassle account to allow businesses to earn interest on their money
  • Business Money Market Savings: a high-yield money market account with check writing abilities

Anchor Bank Review: Their Promise and Values

Anchor Bank takes their commitment to their customers seriously. As a symbol of their integrity and loyalty to those that they serve, they publicly post their promise to their customers and the value system by which they operate.

They operate according to the following simple and straight forward values:

  • Do the right thing
  • Strive to deliver
  • Share a collaborative spirit
  • Serve their customers and communities

In addition to their values, they also make these promises to their customers:

  • To get to know them, listen to their needs and priorities, understand how their business works, and provide local and accessible decision makers
  • To be an expert, bring the right people to the table, think outside of the box, and be open-minded
  • To deliver by doing what they say they will, get it done, make it easy, and act with urgency

It is this public dedication to superior customer service that helped Anchor Bank rank as one on the top banking firms.


In addition to the above Anchor Bank review, you can click on any of the links below to browse exclusive reviews of AdvisoryHQ’s top rated banking firms:



AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

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